The Federal High Court in Lagos has adjourned a suit filed by Unitech Drilling Company Limited to recover an alleged debt from Waltersmith Petroman Oil Limited.

The case, which is before Justice Oluremi Oguntoyinbo, was adjourned till a date to be communicated to the parties.

Unitech Drilling Company Limited is, in the suit, seeking a court order to wind up Waltersmith Petroman Oil Limited over alleged indebtedness.

The plaintiff, which is into oil and gas servicing, claimed that the respondent between 2015 and 2016 engaged its services for the provision of directional drilling and measurement.

It claimed to have drilled four oil wells at Izombe field in Imo State for Waltersmith Petroman Oil Limited.

Unitech Drilling Company Limited alleged that despite steady sale of crude oil produced from the oil wells, Waltersmith Petroman Oil Limited had only paid a paltry sum to it out of the agreed contract sum.

But Waltersmith Petroman Oil Limited had opposed Unitech Drilling Company Limited, asking the court to dismiss it.

In a further counter-affidavit deposed to by one Kemi Banjo, Waltersmith Petroman Oil Limited said the winding up suit against it lacked merit as “it did not admit its inability to pay its outstanding balance of $1,000,188.01,” to Unitech Drilling Company Limited.

The defendant said already, it had paid a total of $2,658,137.70 to the plaintiff.

“The respondent is not insolvent and I verily believe that it is in the interest of justice that the petitioner’s suit be dismissed,” Banjo said in the further counter-affidavit.